South Asia & Oceania Accounted for around 33% Share of the Global Compact Tractors Market During Forecast Period 2021-2031

Key Segments of the Compact Tractors Market

Fact.MR’s study on the compact tractors market offers information divided into two key segments – power, transmission and application across six regions. This report offers comprehensive data and information about important market dynamics and growth parameters associated with these categories.

Power

• Less than 20 HP
• 21HP-30HP
• 31HP-40HP
• 41HP-50HP
• Less than 60HP

Transmission

• Hydrostatic
• Mechanical

Application

• Mowing
• Agriculture
• Snow Clearing
• Landscaping
• Others

Region

• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• MEA

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Compact Tractors Market – Scope of the Report

Fact.MR recently published a market study on the global market for compact tractors. The study provides a detailed assessment on the key market dynamics, including drivers, trends, opportunities, restraints, and detailed information about the compact tractors market structure. The market study presents exclusive information about how the compact tractors market will grow during the forecast period of 2020-2030.

Key indicators of market growth, which include Year-on-Year (Y-o-Y) growth of the market, value chain, supply chain analysis, and Compounded Annual Growth Rate (CAGR) are explained in Fact. MR’s study in a comprehensive manner. This information can help readers understand the quantitative growth prospects of the compact tractors market in the forecast period.

The study is relevant for stakeholders in the compact tractors market, including manufacturers, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market. Stakeholders in the compact tractors market, investors, industry experts, researchers, and journalists, as well as business researchers can leverage the information and data presented in the Fact.MR study.

The study also includes statistics as well as facts related to macro as well as microeconomic factors that are impacting developments in the compact tractors market. It also offers actionable insights based on future trends in the compact tractors market. Furthermore, small businesses and new entrants in the compact tractors market too can make use of the information presented in this study, based on which, they can make appropriate business decisions in order to gain momentum in the market.

Initially pegged at US$ 28.3 billion in 2020 and expected to add value worth US$ 10.8 billion during the forecast period, the compact tractors market is slated to show a bearish trend at a CAGR of 3.3% amid the COVID-19 pandemic. Fact.MR’s analytical research estimates that the market will witness acute dormancy due to the anticipated global economic slowdown and nationwide lockdowns to halt the spread of the virus.

Landscaping companies are staring at a bleak future with shuttered facilities and stilted operations. This has generated significant shortfalls in demand and consumption of compact tractors market. A tighter supply chain has led to dwindling output. Based on these trends, the global compact tractors market is anticipated to expand at a snail’s pace in the short-term forecast period. Growth is anticipated to accelerate with the implementation of containment strategies.

Key Takeaways of the Compact Tractors Market Study:

• The global compact tractors market is expected to grow at a CAGR of 3.1% in terms of volume and is anticipated to expand by 1.4X from 2020 through 2030.

• Compact tractors with engine power between 31HP- 40HP will hold maximum share in terms of value and are projected to create an absolute dollar opportunity of US$ 1.6 billion during the forecast period.

• Compact tractors with hydrostatic transmissions are expected to grow at a CAGR of 3.0% in terms of value, and are slated to experience a share erosion of 188 BPS by the end of the forecast period.

• By application, agriculture is expected to account for a major chunk of share in terms of value, and is projected to create an absolute $ opportunity of more than US$ 1.2 billion during the forecast period.

• South Asia & Oceania are poised to be potential market disruptors and are slated to hold maximum share in terms of value. The region is expected to gain 247 BPS on its market share in terms of value by the end of forecast period.

“Demand for compact tractors will witness a sharp dip in the foreseeable future with the COVID-19 pandemic continuing to ravage economies. However, manufacturers are strategizing on the development of new products which will inject growth in the compact tractors market in the second half of the forecast period.” Says the Fact.MR analyst.

Rebound Strategies to be the First Line of Defence for Key Market Players

Not having the financial cushion to absorb an economic shock of this magnitude, stakeholders are scrambling to find a solution to circumvent monetary distress caused by the pandemic. The global compact tractors market is highly competitive in nature. Key players are focusing on research and development in order to develop new models to obviate slump caused by a slackening demand. Market players are also keeping a close eye on the supply chain.